Plans to Revive Struggling Mining Sector

Written by on 3 March, 2021

By: Mfundo Mabaso

Energy and Mineral Resources minister, Gwede Mantashe, says he is confident that the mining industry in South Africa will improve its performance as the economy opens.

Mantashe was participating in a seminar on “Driving Exploration and Industrialisation through Localisation to grow Mineral Production”.

The seminar precedes the virtual 2021 Prospectors & Developers Association of Canada (#PDAC2021) Convention which connects global participants to the international mining and exploration community and keep them informed of the latest industry news and trends through extensive programming.

Mantashe says they are working together with the mining industry in South Africa to develop a new competitive exploration strategy to target no less than 3% of global mining exploration expenditure.

“South Africa is open for business. We invite the investor community to come & partner with us as we work to place South Africa’s mining & energy sectors on an upward trend. We will continue to work with social partners to create an enabling environment for investment & growth,” adds Mantashe.

In February, Stats SA revealed a continuing annual decline in the country’s mining production, with the 10.7% slump in 2020 following a 0.5% decrease in 2019 and a 1.5% drop in 2018.

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